Royce & Associates LP Has $2.01 Million Stock Position in PTC Therapeutics, Inc. $PTCT

Royce & Associates LP reduced its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 34.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 32,779 shares of the biopharmaceutical company’s stock after selling 17,458 shares during the period. Royce & Associates LP’s holdings in PTC Therapeutics were worth $2,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PTCT. Vise Technologies Inc. bought a new position in shares of PTC Therapeutics in the second quarter valued at approximately $486,000. WCM Investment Management LLC bought a new stake in PTC Therapeutics during the 3rd quarter worth approximately $8,919,000. Prudential Financial Inc. increased its holdings in PTC Therapeutics by 35.5% during the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock valued at $4,115,000 after purchasing an additional 22,060 shares in the last quarter. Sector Gamma AS raised its position in PTC Therapeutics by 28.0% in the 3rd quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock valued at $7,249,000 after purchasing an additional 25,862 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in PTC Therapeutics in the third quarter worth $2,090,000.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,089 shares of the stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total value of $619,940.96. Following the transaction, the chief executive officer owned 341,875 shares of the company’s stock, valued at approximately $26,201,300. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 4,879 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.44, for a total value of $377,829.76. Following the transaction, the vice president owned 117,659 shares in the company, valued at approximately $9,111,512.96. This trade represents a 3.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 163,604 shares of company stock worth $12,289,056. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PTCT shares. Morgan Stanley raised their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Wells Fargo & Company reduced their target price on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Finally, Barclays reissued an “overweight” rating and set a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $80.93.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $63.33 on Friday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 8.18 and a beta of 0.51. The company has a 50 day moving average of $73.09 and a 200-day moving average of $69.08. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. During the same period in the previous year, the business posted ($0.85) earnings per share. PTC Therapeutics’s revenue was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.